By Jill Suskind, WealthQuest for Teens
Wouldn’t it be nice to have a 100% Guaranteed Method for helping the teenagers in our lives grow into wealthy, fulfilled, confident and contributing adults? Unfortunately, there is no such parenting guide, but if there WAS, here is what an excerpt might look like:
1. Share and model positive ways to think about money. Teens need help to adopt attitudes that provide a motivating context for becoming masterful money managers. For example, lots of teens worry that if they choose a career that expresses their passions and interests, they won’t have a high-paying job; you can help them realize that good money management—and not salary alone—is the key to becoming wealthy. Also, help your teen understand that money is a tool for making their dreams come true, and a powerful way to make a difference in the world. Dreaming up a big exciting life should include a commitment to practices and attitudes that lead to financial well-being.
2. Teach your teen an effective money management strategy and support them in applying it to all their incoming money. Often teenagers think, “When I have more money, I will manage it well.” That’s a bit like saying, “I’ll learn to swim after I have been thrown overboard”! Teens can master money management now and know that they have a solid financial future ahead of them. Help them develop a strategy that will allow for fun, necessities, saving for big ticket items, social responsibility, and investment.
3. Teens can start investing now, even in small amounts. This habit is also key to becoming wealthy, so push teens to start building it now.
4. Encourage your teens to give money to causes that matter to them. It's a great feeling to make a real contribution to the world community, and teens love to know that their contribution is powerful.
5. Encourage your teen to read books about money, even if only one a year. Financial awareness and education is the difference between a person who is comfortable making decisions about money and a person who is a “stranger” to money.
6. Provide lots of opportunities to explore money. Money is a multi-faceted topic, and teens benefit from a variety of opportunities to hear about it, talk about it, and explore it through games and other activities that are designed for their age group.
Speaking to teenagers about anything can be a challenge; so much of what we say sounds to them like nagging, problems and pressure. However in my work with teenagers, I have found they are hungry for this training and knowledge—and a successful financial future—and they are waiting for us to talk to them about it.
After all, wealth is about thriving in life, living beyond the ordinary, and making a difference for humanity. Teaching the teens in our lives to start now to develop the habits and attitudes that lead to financial well-being is giving them a gift that will last their whole lives—the power and freedom to live their dreams.
Jill Suskind, from Andover, MA, has been a public school teacher for the past 23 years. She is currently on a leave of absence, thrilled to be working full time on her mission: to prepare this generation of teens to meet the financial realities of adulthood with confidence and competence. She is committed, this year, to be a valued resource and partner for the homeschooling community. Jill is most eager to hear readers’ thoughts, questions, and feedback so that she may serve this powerful and growing community.
Jill Suskind
President, WealthQuest for Teens, Ltd.
http://www.wealthquestforteens.com
email: jill@wealthquestforteens.com
Serving a world-wide community of teens who build and celebrate wealth responsibly...
Wouldn’t it be nice to have a 100% Guaranteed Method for helping the teenagers in our lives grow into wealthy, fulfilled, confident and contributing adults? Unfortunately, there is no such parenting guide, but if there WAS, here is what an excerpt might look like:
Six Sure-fire Steps for Raising Wealthy Children
2. Teach your teen an effective money management strategy and support them in applying it to all their incoming money. Often teenagers think, “When I have more money, I will manage it well.” That’s a bit like saying, “I’ll learn to swim after I have been thrown overboard”! Teens can master money management now and know that they have a solid financial future ahead of them. Help them develop a strategy that will allow for fun, necessities, saving for big ticket items, social responsibility, and investment.
3. Teens can start investing now, even in small amounts. This habit is also key to becoming wealthy, so push teens to start building it now.
4. Encourage your teens to give money to causes that matter to them. It's a great feeling to make a real contribution to the world community, and teens love to know that their contribution is powerful.
5. Encourage your teen to read books about money, even if only one a year. Financial awareness and education is the difference between a person who is comfortable making decisions about money and a person who is a “stranger” to money.
6. Provide lots of opportunities to explore money. Money is a multi-faceted topic, and teens benefit from a variety of opportunities to hear about it, talk about it, and explore it through games and other activities that are designed for their age group.
Speaking to teenagers about anything can be a challenge; so much of what we say sounds to them like nagging, problems and pressure. However in my work with teenagers, I have found they are hungry for this training and knowledge—and a successful financial future—and they are waiting for us to talk to them about it.
After all, wealth is about thriving in life, living beyond the ordinary, and making a difference for humanity. Teaching the teens in our lives to start now to develop the habits and attitudes that lead to financial well-being is giving them a gift that will last their whole lives—the power and freedom to live their dreams.
Jill Suskind, from Andover, MA, has been a public school teacher for the past 23 years. She is currently on a leave of absence, thrilled to be working full time on her mission: to prepare this generation of teens to meet the financial realities of adulthood with confidence and competence. She is committed, this year, to be a valued resource and partner for the homeschooling community. Jill is most eager to hear readers’ thoughts, questions, and feedback so that she may serve this powerful and growing community.
Jill Suskind
President, WealthQuest for Teens, Ltd.
http://www.wealthquestforteens.com
email: jill@wealthquestforteens.com
Serving a world-wide community of teens who build and celebrate wealth responsibly...
